ST Engineering, EY sign space tech and geospatial deal to promote sustainability

Part of the agreement is using geospatial data to formulate sustainability roadmaps focusing on five key areas.

ST Engineering Geo-Insights and EY Corporate Advisors have sealed a memorandum of understanding in space technology and geospatial analytics that aims to address environmental challenges.

According to a statement, both parties will look into using geospatial data to come up with sustainability roadmaps and forming a joint sustainability product development working group to focus on five key areas: deforestation; water management and quality; compliance with Taskforce on Nature-related Financial Disclosures or Task Force on Climate-Related Financial Disclosures requirements; carbon accounting; and baselining environmental impacts.

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Liew Nam Soon, EY Asean Regional Managing Partner, and Singapore Country Managing Partner at Ernst & Young Solutions LLP, said that through space tech and analytics, the partnership can “derive newfound insights to better understand our natural habitat, the built environment, patterns of human behaviour or optimisation opportunities for critical infrastructure, and make smarter decisions to mitigate risks or unlock new opportunities and value for governments, businesses, and the broader society.”

Space tech is the use of satellites, AI, and human intelligence to design, develop, produce, and use equipment and systems for creating technologies required to explore low earth orbit. Its applications can have an impact on various areas, including sustainability and environment.

The programme will be supported by EY Space Tech which combines satellite imagery and artificial intelligence to help deliver earth observation analysis and services to clients through the EY Space for Earth Platform. Also to be utilised is ST Engineering Geo-Insights’ analytics, information products, and value-added services based on satellite imagery to address the growing global demand for timely insights.

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“Our strong expertise in harnessing earth observation data and conducting geospatial analysis enables us to provide valuable insights and solutions to drive positive change and foster a more sustainable future for generations to come,” ST Engineering Geo-Insights General Manager Goh Ing Nam said.

The parties will also explore co-developing a geospatial platform that will integrate ST Engineering Geo-Insights’s capabilities with EY’s infrastructure resilience services, the statement said.